Headlands Technologies LLC Increases Stake in Appian Corporation (NASDAQ:APPN)

Headlands Technologies LLC raised its holdings in shares of Appian Corporation (NASDAQ:APPN) by 2,052.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,218 shares of the company’s stock after buying an additional 4,022 shares during the period. Headlands Technologies LLC’s holdings in Appian were worth $122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its holdings in Appian by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company’s stock valued at $958,000 after buying an additional 368 shares during the last quarter. Concord Wealth Partners increased its holdings in Appian by 21.7% during the first quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after buying an additional 461 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after buying an additional 500 shares during the last quarter. Penserra Capital Management LLC increased its holdings in Appian by 6.3% during the first quarter. Penserra Capital Management LLC now owns 16,646 shares of the company’s stock valued at $479,000 after buying an additional 989 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Appian during the fourth quarter valued at approximately $35,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total transaction of $9,549,000.00. Following the completion of the transaction, the insider owned 8,430,391 shares in the company, valued at $268,339,345.53. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,878,575 shares of company stock worth $60,068,617 in the last three months. 44.00% of the stock is currently owned by corporate insiders.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $27.80 on Tuesday. The firm has a fifty day moving average price of $29.63 and a 200 day moving average price of $30.57. Appian Corporation has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -120.86 and a beta of 1.75.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $160.01 million. During the same period last year, the company posted ($0.26) EPS. The business’s revenue was up 16.5% compared to the same quarter last year. As a group, research analysts predict that Appian Corporation will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on APPN shares. Morgan Stanley upped their price target on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Barclays upped their price target on shares of Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. DA Davidson started coverage on shares of Appian in a research report on Friday. They issued a “neutral” rating and a $30.00 price target for the company. Citigroup upped their price target on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Scotiabank dropped their price target on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.40.

Appian Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.